Illinois Municipal Retirement Fund Has $7.28 Million Stake in Dropbox, Inc. $DBX

Illinois Municipal Retirement Fund increased its position in shares of Dropbox, Inc. (NASDAQ:DBX) by 40.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 254,595 shares of the company’s stock after buying an additional 73,872 shares during the quarter. Illinois Municipal Retirement Fund owned 0.09% of Dropbox worth $7,281,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd bought a new position in Dropbox in the second quarter worth $1,404,000. Wealth Enhancement Advisory Services LLC raised its stake in shares of Dropbox by 11.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 48,224 shares of the company’s stock valued at $1,350,000 after buying an additional 5,136 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Dropbox by 22.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 9,012 shares of the company’s stock worth $258,000 after acquiring an additional 1,641 shares during the period. UniSuper Management Pty Ltd acquired a new stake in shares of Dropbox during the 1st quarter valued at about $2,027,000. Finally, Acadian Asset Management LLC boosted its position in shares of Dropbox by 1.9% during the 1st quarter. Acadian Asset Management LLC now owns 8,544,978 shares of the company’s stock valued at $228,202,000 after acquiring an additional 157,148 shares in the last quarter. Institutional investors and hedge funds own 94.84% of the company’s stock.

Dropbox Trading Up 1.8%

NASDAQ:DBX opened at $31.10 on Wednesday. The stock has a market capitalization of $8.39 billion, a P/E ratio of 17.57, a price-to-earnings-growth ratio of 2.77 and a beta of 0.65. Dropbox, Inc. has a 1 year low of $24.42 and a 1 year high of $33.33. The firm has a 50 day moving average of $29.88 and a 200-day moving average of $28.82.

Dropbox (NASDAQ:DBX) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.10. Dropbox had a negative return on equity of 49.51% and a net margin of 19.87%.The firm had revenue of $634.40 million during the quarter, compared to analysts’ expectations of $623.59 million. During the same period last year, the firm posted $0.60 EPS. The business’s revenue was down .7% on a year-over-year basis. Dropbox has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. As a group, analysts forecast that Dropbox, Inc. will post 1.64 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Royal Bank Of Canada raised their price target on shares of Dropbox from $35.00 to $38.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. Wall Street Zen upgraded Dropbox from a “hold” rating to a “buy” rating in a research report on Saturday. UBS Group lowered Dropbox from a “neutral” rating to a “sell” rating and decreased their price target for the company from $29.00 to $27.00 in a research note on Thursday, September 18th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Dropbox in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Dropbox has a consensus rating of “Hold” and an average target price of $31.75.

Insider Buying and Selling

In related news, CTO Ali Dasdan sold 12,812 shares of Dropbox stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $30.00, for a total value of $384,360.00. Following the completion of the transaction, the chief technology officer directly owned 551,060 shares of the company’s stock, valued at $16,531,800. The trade was a 2.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Sarah Elizabeth Schubach sold 1,066 shares of the company’s stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $28.40, for a total transaction of $30,274.40. Following the transaction, the chief accounting officer owned 103,591 shares in the company, valued at approximately $2,941,984.40. This trade represents a 1.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 318,698 shares of company stock valued at $9,251,159 in the last 90 days. 28.59% of the stock is owned by corporate insiders.

Dropbox Profile

Dropbox, Inc provides a content collaboration platform worldwide. The company's platform allows individuals, families, teams, and organizations to collaborate and sign up for free through its website or app, as well as upgrade to a paid subscription plan for premium features. It serves customers in professional services, technology, media, education, industrial, consumer and retail, and financial services industries.